By having business and capital ties with Cross Compass, Epson seeks to merge the technologies of the two companies to develop business synergies
Epson, Japan-based electronics company, announced that it has bought shares in venture company Cross Compass Ltd as it seeks to improve its focus on artificial intelligence (AI) research and development (R&D) in the manufacturing sector.
This move is part of Epson 25 Corporate Vision, which is aimed at transforming the future of manufacturing by strengthening the business infrastructure as a manufacturing company, innovating in manufacturing processes and driving efficiency improvements in manufacturing and production control, Epson said in a statement.
The development, implementation and application of AI is crucial to achieving the vision of the company, it said.
Develop business synergies
By having business and capital ties with Cross Compass, Epson seeks to merge the technologies of the two companies to develop business synergies that will help in driving innovations in manufacturing process and advances in product intelligence.
Established in 2015, Cross Compass sees AI as the next-generation core technology and uses deep learning methods for analysing data and offering AI consulting services. In addition, the company develops and provides neural networks and algorithms.
Cross Compass has earned relatively a strong reputation among its clients in the manufacturing sector.
The company offers Manufacturing-IX (M-IX), an integrated development environment (IDE) for manufacturing sector that allows easy deployment of AI without requiring the expertise in AI.